Which action caused the banking crisis?

A.
People lost confidence in the banks and withdrew their money at alarming rates.
B.
Banks loaned too much money because so many people were struggling financially.
C.
Banks lowered their interest rates too much in an effort to help borrowers.
D.
Banks froze deposits to reduce the excessive flow of cash that was causing inflation.

A. People lost confidence in the banks and withdrew their money at alarming rates.